OFFSHORE RIG MUSEUM INC (EIN 760280571) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1989

Legal Domicile

Principal Officer

JAMES J PARR

Phone

2816798040

Tax Period

2024-01-01 to 2024-12-31

OFFSHORE RIG MUSEUM INC, founded in 1989, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.9M in total revenue in fiscal year 2024. Revenue surged 120% from the prior year, signaling strong growth momentum. Expenses of $1.8M left a modest 6% surplus.

Mission

TO PROMOTE AWARENESS, TEACHINGS AND UNDERSTANDING OF THE WORLD'S HYDROCARBON ENERGY RESOURCES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,777,881

Program Service Revenue $152,485

Investment Income $86,626

Other Revenue $-99,995

TOTAL REVENUE $1,916,997

Expense Breakdown

Grants Paid $0

Salaries & Benefits $842,565

Fundraising Expenses $130,822

Program Expenses $1,412,058

Other Expenses $952,413

TOTAL EXPENSES $1,794,978

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,916,997	$871,212	+1.2%
Expenses	$1,794,978	$1,772,683	+0.0%
Net Income	$122,019	$-901,471	-1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$189,738

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES J PARR	CHAIRMAN OF THE BOARD	1.00	Officer Director	$0	$0	$0
NICK PATTERSON	VICE CHAIR OF BOARD	1.00	Officer Director	$0	$0	$0
ROBERT E WARREN	SECRETARY	1.00	Officer Director	$0	$0	$0
DAVID RUSSELL	VICE CHAIRMAN/OPERATIONS	1.00	Officer Director	$0	$0	$0
ROBERT EIFLER	VICE CHAIRMAN/MARKETING	1.00	Officer Director	$0	$0	$0
SHAWN VIGEANT	VICE CHAIRMAN/DEVELOPMENT	1.00	Officer Director	$0	$0	$0
JEFFREY A GORSKI	VICE CHAIRMAN/EXHIBITS & P	1.00	Officer Director	$0	$0	$0
WILLIAM BARKHOUSE	VICE CHAIRMAN, HALL OF FAME	1.00	Officer Director	$0	$0	$0
LORI FREMIN	VICE CHAIRMAN/ADMIN & PERSONNEL	1.00	Officer Director	$0	$0	$0
MARK ASHWELL	DIRECTOR	1.00	Director	$0	$0	$0
JEFF BEACH	DIRECTOR	1.00	Director	$0	$0	$0
MIKE BEATTIE	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM DESROSIERS	DIRECTOR	1.00	Director	$0	$0	$0
DAVID FORBES	DIRECTOR	1.00	Director	$0	$0	$0
MIKE GARVIN	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD GHISELIN	DIRECTOR	1.00	Director	$0	$0	$0
SHANE MARCHAND	DIRECTOR	1.00	Director	$0	$0	$0
JOEY HUSBAND	DIRECTOR	1.00	Director	$0	$0	$0
LES MALLORY	DIRECTOR	1.00	Director	$0	$0	$0
TIM MCGARITY	DIRECTOR	1.00	Director	$0	$0	$0
ERIK MILITO	DIRECTOR	1.00	Director	$0	$0	$0
JOE POPE	DIRECTOR	1.00	Director	$0	$0	$0
LOREN SINGLETARY	DIRECTOR	1.00	Director	$0	$0	$0
SHAWN SKOBEL	DIRECTOR	1.00	Director	$0	$0	$0
JOHN SPATH	DIRECTOR	1.00	Director	$0	$0	$0
JASON MAY	DIRECTOR	1.00	Director	$0	$0	$0
JIM SLEDZIK	DIRECTOR	1.00	Director	$0	$0	$0
MIKE GALIUNAS	DIRECTOR	1.00	Director	$0	$0	$0
KRISTEN BARLEY	EXECUTIVE DIRECTOR	40.00	Officer	$182,800	$6,938	$189,738

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,916,997	$1,794,978	$4,976,384	$122,019
2023	$871,212	$1,772,683	$5,015,028	$-901,471
2022	$896,664	$1,800,403	$5,890,947	$-903,739
2021	$720,888	$1,313,230	$6,668,720	$-592,342
2020	$683,365	$1,560,742	$7,206,274	$-877,377
2019	$1,425,097	$1,781,462	$8,015,931	$-356,365
2018	$1,745,594	$1,831,095	$8,351,991	$-85,501

OFFSHORE RIG MUSEUM INC